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<p>The altcoin market is displaying signals that suggest a potential transition into a bull market. According to insights from top crypto analysts, the current market behavior resembles historical patterns, hinting at an upcoming rally.</p>
<h2 class="wp-block-heading" id="strong-total3-chart-analysis-strong"><strong>TOTAL3 Chart Analysis</strong></h2>
<p><a href="https://x.com/CryptosBatman/status/1790372035664711801" target="_blank" rel="noopener noreferrer nofollow">BATMAN (@CryptosBatman) highlights</a> the TOTAL3 chart, which excludes Bitcoin (BTC) and Ethereum (ETH), focusing on the overall altcoin market cap. Presently, TOTAL3 is reflecting a familiar pattern observed during the 2022 bear market transition. This pattern, characterized by a few weeks of consolidation, is now leading towards a bullish trend.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="698" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-1024x698.png" alt="" class="wp-image-491211" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-1024x698.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-767x523.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-1536x1047.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-2048x1396.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421-788x537.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-421.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The Stochastic indicator, which is currently flatlined, has historically preceded price increases. This flatlining has happened multiple times, each followed by key price surges. Additionally, the Relative Strength Index (RSI) is at its lowest since the bull market began, indicating a hidden divergence that often precedes upward momentum. The yellow box in the chart marks this mirroring of 2022 price action, suggesting a shift from a bear to a bull market.</p>
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<h2 class="wp-block-heading" id="strong-market-sentiment-and-predictions-strong"><strong>Market Sentiment and Predictions</strong></h2>
<p>Jelle (@CryptoJelleNL) supports this bullish outlook, noting that altcoins seem to be mimicking their 2020 behavior. He predicts a period of 1-2 months of market fluctuation before a sustained upward trend, anticipating a strong performance in Q3.</p>
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   <p lang="en" dir="ltr">It looks like <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#altcoins</a> are also taking a page from the 2020 playbook.<br><br>1-2 months of chop, and then up only.<br><br>Bring on Q3. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/NS7NCgXMi8" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NS7NCgXMi8</a></p>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1790664349876375995?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 15, 2024</a>
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<p>Conversely, Wist (@wist_defi) offers a cautious perspective. He <a href="https://x.com/wist_defi/status/1790470784340603163" target="_blank" rel="noopener noreferrer nofollow">points out</a> the market’s current downturn, attributed to market makers attempting to instill fear among investors</p>
<p>Wist notes that their strategy is to shake investors off their token holdings before prices potentially rise. Consequently, many investors, gripped by fear and panic, end up selling their positions prematurely. Looking at the TOTAL3 chart, which represents the altcoin market cap, Wist anticipates a correction towards the 540 billion zone.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="783" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-1024x783.png" alt="" class="wp-image-491203" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-1024x783.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-300x229.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-768x587.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-1536x1174.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-2048x1565.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-196x150.png 196w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-100x76.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-458x350.png 458w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420-788x602.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-420.png 1583w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>At these levels, altcoins could potentially drop another 15-20%. However, the analyst advises against panic selling, emphasizing that this should not prompt investors to sell their tokens if they genuinely believe in their potential. Moreover, Wist reminds investors that the crypto journey is still in its early stages, urging them not to give up now as “t<em>he finish line is just around the corner.”</em></p>
<p>The altcoin market is at a critical juncture. Historical patterns and current indicators suggest a bullish trend may be on the horizon. However, market volatility and external influences could still pose challenges. Therefore, the upcoming months promise to be pivotal for altcoin enthusiasts, with potential for key market movements.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/can-kaspa-kas-realistically-reach-a-100-billion-market-capitalization-valuation/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Can Kaspa (KAS) Realistically Reach a $100 Billion Market Capitalization Valuation?</em></strong></a></p>
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<p>The post <a href="https://captainaltcoin.com/crypto-analysts-reveal-altcoin-market-cap-patterns-pointing-to-potential-explosive-rally-but-theres-a-catch/" rel="noopener noreferrer nofollow">Crypto Analysts Reveal Altcoin Market Cap Patterns Pointing to Potential Explosive Rally, But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Analysts Reveal Altcoin Market Cap Patterns Pointing to Potential Explosive Rally, But There’s a Catch

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